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Allocation of assets

  • Opinion Letter 81-12

    Addresses the meaning of “total amount contributed” for the purpose of the denominators in PBGC’s interim regulation on withdrawal liability alternative allocation methods.

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  • Opinion Letter 77-159

    An annuity contract owned by a pension plan is the plan asset, not the assets held by the insurer under the contract. Because benefits payable under the annuity contract are revocable upon termination, assets held under the contract are included in the value of the contract.

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  • Opinion Letter 75-31

    A proposed plan distribution must be in compliance with § 4044 regardless of whether the IRS has issued a determination letter regarding a plan termination. IRS cannot issue an exception to section 4044.

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  • Opinion Letter 85-07

    Termination is not subject to the spin-off/termination requirements of the implementation guidelines involving asset reversions since no assets will revert to the plan sponsor.

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  • Opinion Letter 79-08

    How to determine eligibility for a “Category 3 Benefit,” which is a benefit of a participant who retired, or could have retired, 3 years or more before the plan terminated.

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  • Opinion Letter 81-04

    A plan document’s provision allowing for reversion of residual plan assets to the plan sponsor was invalid and therefore residual assets were required to be distributed to participants.

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  • Opinion Letter 86-05

    Addresses the transfer of surplus assets to another trust after plan termination.

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  • Opinion Letter 76-107

    Allocation of assets of terminating plan otherwise than in accordance with section 4044 is not allowed. Transfer of asset to a defined contribution plan requires that all participants be offered option for immediate receipt of their benefits.

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  • Opinion Letter 76-03

    Plan administrator must allocate assets to participant receiving early retirement benefits and may not allocate assets to participants whose benefit claims had been fully satisfied prior to termination of plan.

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  • Opinion Letter 76-31

    Section 4044 asset allocation rules take precedence over any contrary plan provisions.

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